Chinese owner Zhejiang Yonghang Shipping is expanding its dry bulk fleet with an order for up to six ultramax bulk carriers at Yangfan Group, according to information released by the shipbuilder and reported by Splash247.
The contract covers four firm 64,500 dwt vessels plus options for two additional ships. The vessels have been designed by the Shanghai Merchant Ship Design and Research Institute (SDARI), will be classed by China Classification Society, fly the Chinese flag, and comply with the latest environmental requirements, the shipbuilder stated. Financial terms and delivery dates have not been disclosed, but brokers estimate ultramax newbuild tonnage at Chinese yards at around $34 million per vessel.
Fleet expansion for Zhejiang Yonghang
Zhejiang Yonghang currently operates around 10 smaller bulk carriers and general cargo vessels, according to Splash247. This order represents a significant fleet investment for the owner, adding modern ultramax tonnage to its dry bulk capacity. Ultramax bulkers are versatile workhorses in the dry bulk trades, commonly used for transporting commodities such as grain, coal, and steel products.
Yangfan Group’s recent orderbook momentum
For Yangfan Group, the Zhejiang Yonghang order is the second major newbuilding contract announced in recent weeks. In late May, the shipbuilder secured an order from Baozhou Shipping for up to four 2,700 TEU containerships, the Splash247 report said. That programme comprises two firm vessels and two options and will be built at Zhejiang Tenglong Shipbuilding and Zhejiang East Coast Shipbuilding, both part of the Yangfan Group. The back-to-back orders demonstrate Yangfan Group’s active role in both the dry bulk and container ship sectors.
| Shipowner | Vessel type | DWT / TEU | Firm | Options | Estimated unit price |
|---|---|---|---|---|---|
| Zhejiang Yonghang | Ultramax bulk carrier | 64,500 dwt | 4 | 2 | ~$34m |
| Baozhou Shipping | Containership | 2,700 TEU | 2 | 2 | Not disclosed |
Implications for dry bulk shipping
While the newbuilds will take several years to deliver, the order adds to the forward supply of ultramax tonnage. For logistics managers and ocean carriers monitoring dry bulk capacity, this signals growing confidence in the sector and potential incremental supply in the mid-term. The vessels’ compliance with the latest environmental requirements also suggests that owners are investing in fuel-efficient designs, which may shift chartering preferences toward modern eco-ships. Freight forwarders and 3PL operators should note that the addition of ultramax tonnage may affect spot rate dynamics on major dry bulk routes, particularly for grain and minor bulks, once these vessels enter service. The order also underscores Yangfan Group’s ability to secure repeat business, which could influence its berth allocation and delivery scheduling for other projects.
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